Banking Awareness Quiz – Set 78 – Miscellaneous

Banking Awareness Quiz: We have created many quizzes on Banking Awareness and this set is one of them. These questions are most important for banking and insurance exams. The question asked in the Banking Awareness section are based both on static banking and that to current banking in news. These Banking Awareness sets will guide you in all banking exams like IBPS Clerk, IBPS PO, SBI Clerk, SBI PO, RRB Clerk and PO and other exams.  The set will be beneficial for the Banking and financial awareness section of LIC AAO. So attempt all the sets now.

1. Which among the following words is written in between the crossing lines in a restrictive crossing cheque?
   A) Not negotiable
   B) Account Payee
   C) & Company
   D) State Bank of India
   
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   Option B
   
2. What is the maximum limit of deposit that is insured in NBFC?
   A) Rs 1 lakh
   B) Rs 50000
   C) No Limit
   D) Not insured
   
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   Option D
   Explanation: deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is not available to depositors of NBFCs, unlike in case of banks.
3. What is meant by Sovereign wealth fund?
   A) funds pooled by oil producing countries
   B) investment of fund by foreign companies in Indian companies
   C) state-owned and managed investment fund
   D) fund pooled by illegal means
   
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   Option C
   
4. What is the Minimum Average Maturity Period (MAMP) for ECB raised from foreign equity holder and utilised for specific purposes?
   A) 5 years
   B) 3 years
   C) 1 years
   D) 7 years
   
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   Option A
   Explanation: MAMP will be 3 years for all ECBs. However, for ECB raised from foreign equity holder and utilised for specific purposes, as detailed in the Annex, the MAMP would be 5 years. Similarly, for ECB up to USD 50 million per financial year raised by manufacturing sector, which has been given a special dispensation, the MAMP would be 1 year
5. Telebanking service is based on _________
   A) Virtual banking
   B) Voice banking
   C) Online banking
   D) Core banking
   
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   Option B
   Explanation: Telephone banking is a service provided by a bank or other financial institution, that enables customers to perform over the telephone a range of financial transactions which do not involve cash or documents (such as cheques), without the need to visit a bank branch or ATM.
6. Expand EBT
   A) Electronic Borrowing Tool
   B) Electronic Banking Transaction
   C) Electronic Bond Transaction
   D) Electronic Benefit Transfer
   
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   Option D
   
7. Which among the following is a third party product offered by a bank?
   A) Term Deposit
   B) Debit Card
   C) Mutual Funds
   D) Gift Cheques
   
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   Option C
   
8. Which among the following initiative promotes financial inclusion?
   A) Opening no frills accounts
   B) Appointing business correspondents for servicing rural customers
   C) Opening bank branches in un-banked districts
   D) All of the above
   
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   Option D
   
9. An affordable housing is defined as a residential house/flat of carpet area of upto 90 sqm in non-metropolitan cities/towns and 60 sqm in metropolitan cities having value upto Rs. ____________
   A) Rs 45 lakhs
   B) Rs 35 lakhs
   C) Rs 25 lakhs
   D) Rs 55 lakhs
   
   View answer

   Option A
   
10. The Reserve Bank of India has merged how many categories of NBFC’s to form a new category called NBFC – Investment and Credit Company (NBFC-ICC)?
    A) 2
    B) 3
    C) 4
    D) 5
    
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    Option B
    Explanation: The Reserve Bank of India on February 22, 2019 merged the three categories of NBFCs i.e
    o Asset Finance Companies (AFC),
    o Loan Companies (LCs) and
    o Investment Companies (ICs)
     into a new category called NBFC – Investment and Credit Company (NBFC-ICC).

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